Nigeria’s Public Debt Stock Hits N28.63tn

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By James Emejo

Nigeria’s total public debt portfolio, including states and the federal government, stood at N28.63 trillion as at March 31 this year, according to the National Bureau of Statistics (NBS).

External debt accounted for N9.99 trillion or 34.89 per cent of the total debt, the domestic component stood at N18.64 trillion or 65.11 per cent of total borrowing.

According to the Nigerian Domestic and Foreign Debt (Q1 2020) report which was released Friday by the statistical agency, total debts by states and the Federal Capital Territory (FCT) was valued at N4.11 trillion with Lagos State accounting for 10.8 per cent of the total domestic debt stock Yobe was adjusted to have the least debt domestic stock, accounting for 0.7 per cent of total debt.

Details later…